French military and political leader, Napoleon Bonaparte, once said: “War is 90% information”. The leader of several successful campaigns during the French Revolution, Bonaparte was around way before the information age and yet, he consistently attributed much of his battle success to having the right information. And, perhaps more importantly, he used that data to make careful, strategic decisions. A great example of data management in one of its earliest known forms.
In 2020, data volumes will only continue to expand. As organisations are increasingly experimenting with new use cases for emerging technologies like cloud computing, artificial intelligence (AI) and machine learning, access to information doesn’t seem to be a problem. However, many organisations struggle to effectively analyse and truly leverage all of this data. In fact, a recent Syncsort survey revealed that only 9% of companies consider their organisation to be “very effective” at getting value from their enterprise data.
With figures like this in mind, we’ve put together the following list of data management dos and don’ts.
DO take the time to embed data into business processes. When information is integrated directly into reporting and analytics systems, it can be reviewed promptly and immediately used to make smart business decisions.
DON’T forget about data regulations. With various regulations around how customer data is collected and identified, are you prepared to manage consumer complaints and handle the implications of noncompliance? In line with this, organisations must also prioritise data governance as this provides the framework for the execution of data management processes.
DO focus on data quality. Despite being one of the most persistent and pervasive challenges in data management, many businesses only prioritise data quality when revenue, reputation or mission-critical data is at risk. This needs to change. Modern businesses must resolve any data quality issues before they proliferate across systems and cause real problems.
DON’T ignore automation. Set to be a key focus area in data management and technology, automation makes it possible for your analytics professionals to focus their attention on leveraging insights rather than generating them. This frees up time and resources.
DO be mindful of the talent gap. Smart and strategic data management is a must but it can be tricky if you don’t have the right skills. In response, many organisations are developing skills in-house to close knowledge gaps and capitalise on the promises of “data everywhere”.
Did you find this article interesting? We post content about the latest digital and business trends on our blog every week. To have these insights delivered straight to your inbox, simply complete the form below to subscribe to our monthly newsletter.